Advertisement
Singapore markets open in 3 hours 32 minutes
  • Straits Times Index

    3,304.00
    +2.22 (+0.07%)
     
  • S&P 500

    5,487.03
    +13.80 (+0.25%)
     
  • Dow

    38,834.86
    +56.76 (+0.15%)
     
  • Nasdaq

    17,862.23
    +5.21 (+0.03%)
     
  • Bitcoin USD

    64,989.61
    +9.18 (+0.01%)
     
  • CMC Crypto 200

    1,379.45
    +41.70 (+3.12%)
     
  • FTSE 100

    8,205.11
    +13.82 (+0.17%)
     
  • Gold

    2,342.70
    -4.20 (-0.18%)
     
  • Crude Oil

    81.47
    -0.10 (-0.12%)
     
  • 10-Yr Bond

    4.2170
    0.0000 (0.00%)
     
  • Nikkei

    38,570.76
    +88.65 (+0.23%)
     
  • Hang Seng

    18,430.39
    +514.84 (+2.87%)
     
  • FTSE Bursa Malaysia

    1,599.79
    -6.34 (-0.39%)
     
  • Jakarta Composite Index

    6,726.92
    -6,734.83 (-50.03%)
     
  • PSE Index

    6,366.03
    -2.77 (-0.04%)
     

Affirm Holdings (AFRM) Crossed Above the 200-Day Moving Average: What That Means for Investors

After reaching an important support level, Affirm Holdings (AFRM) could be a good stock pick from a technical perspective. AFRM surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.

The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.

Shares of AFRM have been moving higher over the past four weeks, up 9.1%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that AFRM could be poised for a continued surge.

The bullish case solidifies once investors consider AFRM's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 5 higher, while the consensus estimate has increased too.

ADVERTISEMENT

Investors may want to watch AFRM for more gains in the near future given the company's key technical level and positive earnings estimate revisions.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Affirm Holdings, Inc. (AFRM) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research